Notfn No. 24/2010 in leiu of 42/2001

dear ,

We are supplying the materials to the party under notfn. no. 43/2001 , but the notfn no. 42/2001dtd. 26.06.01 is changed by 24/2010 dtd. 26.05.10 vide board circular no 928/18/2010-cx dtd. 28.06.10. we are getting bond Annexure -1 from the party , accordingly we are raising ARE -3 and sending the materials . Now procurement of raw materials by notfn no.43/2001 is not valid as notfn no 42/2001 is void by notfn no. 24/2010 . Meanwhile we supplied materials to various parties and already got counter signed coppies from the suptd. of central excise of the party's end.

now my question is

what is ours liablities in this regards?

Is there no liablity of consignee side or suptd of consignee , how they are giving counter signed copy ?.

This huge amount of excise duty whether we have to pay? or legal action can take ?

Party obviously will not pay the excise duty, in that case what is the responsiblity of ours side?

Whether we have to Interest on It ?

please share with me

Amitabha Mukherjee

Notification No. 24 /2010-Central Excise (N.T.)

New Delhi the 26^th May, 2010

G.S.R. (E).- In exercise of the powers conferred by rule 19 of the Central Excise Rules, 2002, the Central Board of Excise and Customs hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance, (Department of Revenue) No.42/2001-Central Excise (N.T.), dated the 26^th June 2001, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 471(E) dated the 26^th June, 2001, namely: -

1. In the said notification, in Paragraph 1, after Condition (iii), the following Condition shall be inserted, namely: -

"(iv) that export of excisable goods which are chargeable to nil rate of duty or are wholly exempted from payment of duty, other than goods cleared by a hundred per cent export-oriented undertaking, shall not be allowed under this notification;”

F.No. 209/04/2009-CX.6

(V.P.Singh)
Under Secretary to the Government of India

Note.- The principal notification No.42/2001-Central Excise (N.T.), dated the 26th June, 2001, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 471(E), dated the 26th June, 2001 and last amended vide notification No.20/2007-Central Excise (N.T.), dated the 19^th April, 2007, published vide number G.S.R.299 (E), dated the 19th April, 2007.

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principal notification no 42/2001 is still valid, and 24/2010 made amendment only for ZERO rated goods only.